Original creditor vs. third party

I filed a complaint with the FTC against a CA, and in their response, the following was included....

Quote:

Original creditors do not have to validate. Their level of proof is called verification since they know who they have did business with. Since fdcpa does not cover these companies,you would have to dig deeper. The FTC regulates unlawful and deceptive trade practices.You could file a complaint under that. It is best to look at your state statutes for how they regulate companies involving credit & collection.

Cashnetusa is claiming I took out a 1200.00 loan and still owe them 943.00. I took out a 600.00 dollar loan. My direct deposit did not go in and that caused a HUGE repeteive overdraft mess. These companies refused to stop the withdrawals so I froze the account. I will not accept the amount that this company says I owe. There must be a law to make them prove it. I do know that no one is allowed to call you if you send a certified letter telling them to stop. Original creditor or third party.

Ask CashNetUSA to give you the account statements for reviewing the balance. They should have no problems in giving you the details. Did you get the agreement copy before the loan was deposited into your account? It should clear up any confusion about the loan principal.

Original creditor or their internal collections dept are not regulated by the fdcpa laws. The laws are applicable only on third party debt collectors. They need to stop calling after you have sent the C&D letter

Cashnetusa, when I asked for something in writing said, We're not going down that road." I asked if they were even licensed in Florida and they (she) said. "you took the loan in Florida so we must be.Let me get my manager." I said I could not have this conversation at work and she said, "you are kidding, have a nice day" and hung up. Then they called me at home on Easter Sunday. Can you believe the scum. I dod not answer. I have written them a letter but I am still not sure what my rights are. Everyone is nice and has an opinion or some factual info but nothing about the validation issue. If I say you owe me money and I say you don't there must be a law in place. What is it?

I should proof read. Sorry

Frogpatch, they called me like 5 times on Easter also. That is the only bill collector that called me yesterday.

Frogpatch - What you should do is write them a letter stating that you need a copy of the original contract with your signature. Send this certified mail. If they don't respond to your letter with the contract, send a copy of the letter you sent them, along with a letter stating the situation to the Florida Dept of Financial Services. Per Florida law they have to provide you with a copy of the contract upon request. If they don't they can be fined.

Thanks Goudah. I have two different addresses for them. Both PO Boxes. I will send one to both. Along with the C & D so they won't annoy me. Imagine calling someone on a Holiday. I don't care whether they observe it or not. Have some respect. Now they are in for a fight! Geneva Roth AKA Rio Resouces AKA MTE Financial dropped me like a hot rock when I fought back. They turned me over to a collector who is probably very sorry he bought that debt. The illegal one will drop you or try to settle right away. Cash Net tried to settle for the amount of the original debt by inflating what they claimed was the original debt. Thats a new trick! Thanks again Goudah!

I still can't beleive they called on a holiday! That is just wrong . . . . I would mention that in your letters, just so that little tidbit is in writing. I don't know if the FDRS could do anything about the calling on holidays, but there should be a law against it, not just for third party collectors.

So far as I know they can call any day they want but only between 8 AM and 9 PM. I have one that calls twice at about 8:45 pm. I do not know who they are. My ID just says "out of area". Do they really think I will pick it up? I can't believe that Sassnlucy got 5 calls from them on Easter.

It just goes to show what kind of companies they are . . . . .

I have an unrelated question Goudah. Why do these threads just suddenly end at times leaving a question just hanging, while others seem to go on for months? Also how do I become a member if I do not need to hire a debtconsolidation company? Thanks

Frogpatch, there won't be any counseling call for you and you will be a member on the board. Do a community sign up here with your name and email address.

I think it all depends on what people respond to. I can say for myself that I don't read every single thread. Sometimes there is a bunch of posts, so threads get pushed off the first page, making it harder for people to find. Others go on for months because people keep posting to the thread. Everytime there is a new post the thread moves to the top of the list.

To sign up as a member you have a couple options. If you want a debt counselor to call you (at NO obilgation) go here: https://www.debtconsolidationcare.com/free-consultation

If you want to sign up and just be a member go here
http://www.debtconsolidationcare.com/community/signup.php

Either way you don't have any obligation to hire a debt consolidation company. The first way to sign up you are only contacted by one to review your options. The second way to sign up is just that, you sign up as a member. Then you will have access to PM's and you will earn points for your posts.

You can also look at the right hand side of the page. In the column there should be a sign up link.

Thanks agian Goudah. I just signed up. How do I know if my registration worked?

why is my first name up there and how do I change it

You can post under your user name, so it looks to me like it worked. Also, I just sent you a PM to test. In the top right hand corner on the page you should see a link that says "You have 1 new message". You may have to resfresh the page to see it. Click on that and it will take you to your PM inbox.

To send a PM to anyone, you will see a button under their post that says "PM". Click on that button and you can PM the person.

If you go to the top right of the page there is an edit profile link. Click on that and you can change your username. You may also want to change the settings that allow users to email you or not.

Never Mind! I am new. Forgive my ignorance

Don't even worry. Did you get the PM?

No, I do not think I answered all the quoestions correctly. I will go back when I have a chance. At work right now. Thanks. You are the first fireplug pug I ever met!

Thanks! Most people think it's an astronaut costume or something. But yes, it's a fire hydrant. And no, I don't dress my dog up. He wore it once for about 5 minutes on Halloween, didn't like it, and hasn't worn anything since.

It is two days later and I still can't log in. This has become one big frustration. There is no help link. It still says my user name is taken. I still have to alter my name and go on as "guest." Now when I click on my bookmarks they say "community managed" and I am blocked from them. If I have been suspended or something I should at least know why!

Frogpatch - Mike is working on the situation and posted this on another thread:

Quote:

Plus I wanted to let you know that your other thread was moved since it was technically an admin problem, not a debt problem. It is here:

http://www.debtconsolidationcare.com/pub/about25648.html

Thanks Goudah for quoting my reply to Frogpatch

Hi Frogpatch

Let me know after you send me an email goudah posted above.

I just checked my emails and your email was not there.

It's a very small problem and won't take long to get fixed. Please send me your username and email address you used to log in the forums.

Regards
Mike

Thanks both of you. I sent the info. Hopefully I will be able to post soon.

Once you are able to log in and post, let us know!

Hi Frogpatch, please check your email. I replied with your details just now.

Regards
Mike